Holiday home?

[welshmatt983]

I often find myself browsing oversea's property and cant help getting tempted into buying a home abroad, I go on at least 1 holiday a year maybe 2.

I was just after your advice really, the cheap prices are very tempting, I know if I am going to be in holiday home for a few weeks a year Im not going to get maximum returns but if I could rent out and cover most costs I would be happy. Cant see prices falling much more so if I could pick something up under property value hopefully be pretty safe.

Spain and Florida tempt me...

Spain because it is only approx 2 1/2 hour flight away, all year round climate, love everything about it, sandy beaches and nice scenery!

Florida because property is cheap there at moment, they speak the same language, downsides the property taxes, hurricane insurance etc?

As I said above, I am not on the verge of buying, just after the thoughts of experts and people who have bought property abroad. I currently own my home in UK and have a buy-to-let in UK.

 

[Lysos]

Buying 'something under value' is a myth. Property anywhere sells for what someone is prepared to pay; that is its' value at that time.

 

[welshmatt983]

Hi, thanks for your replies.

Yes I have noticed on estate agents adds they say price has dropped 50% etc.

I've bought 2 houses in UK in 3-4 years ago, I thought was perfect time to buy but if I hung on then I probs would of saved myself at lease 20,000GBP!

Still glad I bought though, I would of been paying rent somewhere else anyway so wouldnt of been much better off financially anyway!

I wouldnt be ready to buy for another 12 months or so anyway so maybe they will fall a bit more by then and might be lucky!

All news articles suggest house prices have bottomed and wont drop anymore but they've been saying that since I've bought mine!